ITOCO INC to Acquire Biotech Protocols and Technology Related to Carbon Credit Generation From ECAPFIN S.A.P.I. DE C.V

Rhea-AI Summary

ITOCO INC. (OTC PINK:ITMC) has announced a purchase agreement to acquire assets from ECAPFIN S.A.P.I. De C.V. based in Mexico City. The assets include Bio Tech related to the Nopal Cactus, agreements for commercial product development, and technical knowledge for applying for Carbon Credits. The acquisition aims to leverage the Nopal plant's properties in creating environmentally friendly products. Due diligence will be conducted with a transaction close expected by June 30, 2021. CEO Michael Paul expressed optimism about the potential of ECAPFIN's technology.

Positive

• Acquisition of Bio Tech assets related to Nopal Cactus could enhance product offerings.
• Potential for creating commercial products in renewable bio-energy and food markets.
• Acquisition may increase market presence in the green Bio-Tech sector.

Negative

• Due diligence may uncover unforeseen risks that could delay or impact acquisition.
• Integration of ECAPFIN's technology might pose operational challenges.

TORONTO, ON / ACCESSWIRE / March 11, 2021 / ITOCO INC. (OTC PINK:ITMC) is pleased to announce that it has signed a purchase agreement with ECAPFIN S.A.P.I. De C.V. of Domicilio DISTRITO FEDERAL (Mexico City) Mexico, to acquire all the assets of the company which include:

1. Bio Tech related to the growth and usage of the Nopal Cactus;
2. Agreements to amalgamate Nopal Cactus Farms and related assets in Mexico and elsewhere for the purpose of creating commercial products including foods, and renewable bio-energy products;
3. Technical knowledge related to applying for Carbon Credits that relate to Nopal's unique Carbon reducing properties.

ITOCO will conduct final due diligence on ECAPFIN's technology and contracts and the parties intend to close the acquisition transaction by June 30, 2021.

"We are very excited by the potential that ECAPFIN's technology and assets have in the green Bio-Tech space. We plan to leverage the Nopal plant's unique properties into several strong products that have significant environmental and land reclamation properties," said Michael Paul, CEO of ITOCO.

ITOCO will shortly announce several Board appointees relative to this announcement as well as a detailed and dedicated web page section related to this acquisition. Please see - www.itoco.net.

About ITOCO INC.
ITOCO's mission is to be a global leader in developing, distributing, and producing Bio Tech related technologies and methodologies in a compliant environmentally friendly manner. ITOCO INC. trades on the OTC Markets, symbol: ITMC. ITOCO is a 13-year-old publicly quoted specialty Bio Tech development, production and distribution company based in Toronto, Canada and Nevada USA. Itoco seeks to partner with outstanding individuals and companies within this field to joint venture, research, and co-develop Bio Tech related products and technologies to the market.

About ECAPFIN S.A.P.I DE C.V.
ECAPFIN is creating an effective solution for the capture and processing of CO2 as well as to generate clean energy from Nopal Cactus. Designed, developed, tested, it is a surprisingly profitable solution. In additional, the carbon sequestration achieved by the nopal cactus plantations results in biological carbon sequestration. Because cactus transform CO2 into calcium carbonate rather than storing CO2 into its biomass and that the captured CO2 is injected into the ground through root system of the plant, this type of carbon capture and storage can be assimilated to a permanent sequestration and, therefore, lead to the allowance of carbon offsets. Eco-Plan PLC is conceived to globally exploit the "Nopaltilla technology" under the name Eco-Plan to capture in a highly efficient way the CO2 emitted by industry and fossil fuel, therefore benefiting the environment and ecosystems. The team of Scientist is committed worldwide to climate protection through implementation of the Eco-plan technology and the offsetting of greenhouse gas emissions.

Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, potential, intends, plans, hopes, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and actual results could differ materially from those anticipated. Forward looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

CONTACT:
ITOCO INC.
Michael Paul, President & CEO
ir@ITOCO.net
+1 (905) 829-5000
www.itoco.net

SOURCE: ITOCO INC.

View source version on accesswire.com:
https://www.accesswire.com/634541/ITOCO-INC-to-Acquire-Biotech-Protocols-and-Technology-Related-to-Carbon-Credit-Generation-From-ECAPFIN-SAPI-DE-CV

FAQ

What is the purpose of ITOCO's acquisition of ECAPFIN?

The acquisition aims to enhance ITOCO's Bio Tech capabilities and product offerings related to the Nopal Cactus.

When is ITOCO expected to close the acquisition of ECAPFIN?

The transaction is expected to close by June 30, 2021.

How will the acquisition impact ITOCO's stock symbol ITMC?

The acquisition may positively influence ITMC's market performance by expanding product lines and market presence.

What unique properties of the Nopal Cactus are relevant to this acquisition?

The Nopal Cactus has unique carbon-reducing properties that can contribute to carbon credit generation.

Who is the CEO of ITOCO and what did he say about the acquisition?

Michael Paul is the CEO, and he expressed excitement about the potential of ECAPFIN's technology in the green Bio-Tech space.